WASHINGTON — Orders to U.S. factories for big-ticket manufactured goods rose 2.7% in March with a key category that tracks business investment decisions rising at the strongest pace in eight months.
The Commerce Department says the increase in orders for durable goods followed a 1.1% drop in orders in February. Both months were influenced by a swing in demand for commercial aircraft, which had fallen sharply in February and rebounded in March.
The closely watched category that serves as a proxy for business investment saw a 1.3% rise in orders in March, the best showing since a 1.5% increase last July.
Economists are hoping that manufacturing, which has been battered by global weakness and trade tensions, will begin showing strength in coming months which will provide support for the overall economy.
Martin Crutsinger, The Associated Press